Superclusters: Home of “Supergiant” Funding Rounds

Crunchbase has an excellent report that uses a term Canadian cities will be familiar with: superclusters.

They’re not talking about Justin Trudeau’s idea of government catalyzed tech superclusters. Superclusters are cities that are home to “supergiant rounds” of venture capital.

These are funding events when a company raises more than a $100 million dollars in a single round. Those used to be rare. Not anymore.

Here, in the chart below, are the cities where they’re happening:

See anyone missing? Not one Canadian city makes the list. Toronto (with K-W) should be. And I’m sure that people are in Montreal and Vancouver would make an argument for their strengths.

But the major funding events aren’t happening in Canada. And that’s a major challenge for Canada’s companies.

Even though they often have world-beating technology, they don’t have immediate access to Canadian capital to scale into the billion-dollar-plus entities.

That’s where the unicorns wander.

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